Miles Jennings

@milesjennings

144 Following

1396 Followers

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We’ve been flooded with crypto founders asking what the recent election means for their projects. TLDR: We have an incredible opportunity to build on the bipartisan progress from the last Congress and bring the best of crypto to the world. You’ll hear a lot of speculation and hot takes in the coming weeks, but it’s too early to tell how everything will shake out. Nevertheless, we believe that we now have a future where we can deliver on the many consumer benefits that we’ve been excited about: giving people ownership over their digital identities, new business models for creatives, low to no-fee cross border transactions with stablecoins, development of physical infrastructure like energy grids, and so much more. We’re optimistic that with clearer rules, it will make it easier to identify and shut down bad actors and allow well-meaning projects to take off. The future of crypto in the U.S. is bright! https://a16zcrypto.com/posts/article/a-positive-path-forward/

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It’s time to fight for the right to create. Today, @a16zcrypto, @standwithcrypto, @opensea are kickstarting the Creator Defense Fund, a legal defense fund for creators using blockchain technology to connect with fans, monetize their work, and bring creativity to the world. We’re contributing $1M and partnering with top law firms to offer legal services and consultations for artists and creators who are facing potential government action or simply want to ensure they are structuring their NFT projects in a legal and compliant manner.

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1/7 Tokens are an incredibly powerful digital primitive. They're also risky to bring to market. Here’s a quick breakdown of the token launch strategies and risk framework we’ve developed with founders for the @a16zcrypto Token Launch Playbook:

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1/ We're seeing more and more crypto startups stuck with predatory terms from early-stage deals. Don't let early-stage investors set you up for long-term failure and jeopardize future fundraising rounds. Here's what you should look out for:

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Everything we at @a16zcrypto understand and believe about token launches, right at your fingertips:

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(1/7) Launching a token too early is one of the most common mistakes in web3 – it can be fatal for projects. So, how do you get ready to launch? @jasonr and I wrote about 5 things you can do before taking the leap. Here’s a quick guide 🧵 https://t.co/V2SoOhOliu

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Launching a token can be as easy as sending an email. Unlocking their potential as a new digital primitive and bringing them to market is much harder. I’ve worked with dozens of founders tackling this challenge and am now releasing a 3-part playbook written for everyone. 🧵

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Good to see BA and CFAT sue the SEC Today. The expansion of the "dealer" definition is transparent attempt to weaponize securities laws. https://www.theblock.co/post/290419/blockchain-association-and-crypto-freedom-alliance-of-texas-sue-the-sec-over-newly-adopted-dealer-rule?utm_source=twitter&utm_medium=social

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The SEC's "...role is to protect investors; to maintain fair, orderly and efficient markets, and to facilitate capital formation. The commission is failing across all three objectives when it comes to digital asset markets and tokens." As a graph:

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DUNA AMA. Happening now 👇

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David Kerr (@cowriellc) and I will be doing an AMA tomorrow (Friday at 12:00 PM PT) to talk about Wyoming's new legal entity for DAOs. Come learn how to harness the power of the DUNA.

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Wyoming’s DUNA legal structure for DAOs goes live on July 1, 2024. Companies that (1) have a U.S. nexus and (2) are using tokens to decentralize the governance of an asset (a treasury, autonomous software, etc) should consider it. Here are 10 benefits of the DUNA 👇

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🚨Big News🚨Wyoming just enacted a game-changing law for web3. It creates a new entity for DAOs – the Decentralized Unincorporated Nonprofit Association (DUNA) – that’s been years in the making. @cowriellc and I provide everything you need to know below: https://a16zcrypto.com/posts/article/duna-for-daos/

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If a VC requires you to pay them tokens for their help launching your token, two things are true: 1️⃣ You don't want their help 2️⃣ They're going to dump your token

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Call with a Euro VC this morning: Me: Please waive your non-dilutable token rights. EVC: Why? Me: It limits flexibility for future financings. EVC: Eh, who can predict the future? Me: It creates bad incentives. EVC: Eh, we have a different model. Me: It's off market. EVC: Eh, every deal has this. Beware of bullshit.

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If a VC pushes to shorten your token lockup, including "to boost your recruiting", what they're really telling you is "we intend to dump our bags as soon as you'll let us". 4 year/1 year cliff token lockups should be standard.

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If a VC pushes to shorten your token lockup, including "to boost your recruiting", what they're really telling you is "we intend to dump our bags as soon as you'll let us". 4 year/1 year cliff token lockups should be standard.

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The most successful “Can devs do something?” ever.

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